Credit Utilization Question

[becardi112]

I just got a chase sapphire preferred card with a 5k limit and recieved the offer of spending 4k in 3 months for 40k points. I like keeping my utilization low but due to the amount i need to spend I have to at least go over 20 percent.  If I pay off my balance numerous times throughout the month will my utilization be the sum of all the money put on the card during the billing cycle or just the balance when my billing cycle statement is made.  I have fico credit monitoring and my cards statement is made on the 8th of every month and the account just showed up today so I assume they report monthly around the 12th.

[Anonymous]

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@becardi112 wrote:

I just got a chase sapphire preferred card with a 5k limit and recieved the offer of spending 4k in 3 months for 40k points. I like keeping my utilization low but due to the amount i need to spend I have to at least go over 20 percent.  If I pay off my balance numerous times throughout the month will my utilization be the sum of all the money put on the card during the billing cycle or just the balance when my billing cycle statement is made.  I have fico credit monitoring and my cards statement is made on the 8th of every month and the account just showed up today so I assume they report monthly around the 12th.

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The utilization percentage that is discussed here is the amount you allow to post to your credit reports when your statement cuts. If you charge 2k from the 17th-2nd and pay off all but $10 and let that be on your statement as the balance for the 8th, your utilization would be 2%.

[Anonymous]

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@becardi112 wrote:

I just got a chase sapphire preferred card with a 5k limit and recieved the offer of spending 4k in 3 months for 40k points. I like keeping my utilization low but due to the amount i need to spend I have to at least go over 20 percent.  If I pay off my balance numerous times throughout the month will my utilization be the sum of all the money put on the card during the billing cycle or just the balance when my billing cycle statement is made.  I have fico credit monitoring and my cards statement is made on the 8th of every month and the account just showed up today so I assume they report monthly around the 12th.

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It will show what the balance is when the statement is issued.  You'll be fine and whatever impact any high utilization temporarily causes will be recovered when you pay it down.

[becardi112]

Thanks for the quick replies I will just pay them off and keep a small charge on it for when the statement is created in that case. Thanks again.